CAVA Group (NYSE:CAVA) Earns Market Perform Rating from Analysts at Raymond James

Equities researchers at Raymond James initiated coverage on shares of CAVA Group (NYSE:CAVA) in a research report issued to clients and investors on Friday, Briefing.com reports. The firm set a “market perform” rating on the stock.

A number of other equities analysts also recently commented on the stock. Stifel Nicolaus upped their target price on shares of CAVA Group from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Morgan Stanley upped their target price on CAVA Group from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, November 8th. Piper Sandler raised their price target on CAVA Group from $45.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, August 16th. Jefferies Financial Group lowered their price objective on shares of CAVA Group from $54.00 to $48.00 in a research note on Tuesday, October 3rd. Finally, Robert W. Baird raised their target price on shares of CAVA Group from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, August 16th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

CAVA Group Price Performance

Shares of CAVA stock opened at $34.28 on Friday. The business’s 50 day simple moving average is $32.86. CAVA Group has a 52-week low of $29.05 and a 52-week high of $58.10.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.07. The business had revenue of $175.55 million during the quarter, compared to the consensus estimate of $171.49 million. CAVA Group had a negative return on equity of 13.72% and a negative net margin of 1.12%. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. Research analysts expect that CAVA Group will post 0.1 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in CAVA Group by 190.0% during the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after acquiring an additional 570 shares during the last quarter. Glassman Wealth Services purchased a new stake in shares of CAVA Group during the 2nd quarter valued at $28,000. Headlands Technologies LLC acquired a new stake in shares of CAVA Group in the 3rd quarter worth $26,000. Victory Capital Management Inc. purchased a new position in CAVA Group during the 2nd quarter worth $40,000. Finally, Clearstead Advisors LLC acquired a new position in CAVA Group during the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 61.83% of the company’s stock.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of Mediterranean restaurants. The company offers salads, dips, spreads, toppings, and dressings. It sells its products through whole food markets and grocery stores. The company also provides online food ordering services. Cava Group, Inc was founded in 2006 and is based in Washington, District of Columbia.